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402 S Ashe Avenue, Newton, NC 28658 ACTIVE 1 of 48 402 S Ashe Avenue, Newton, NC 28658 — photo 2 402 S Ashe Avenue, Newton, NC 28658 — photo 3 402 S Ashe Avenue, Newton, NC 28658 — photo 4 402 S Ashe Avenue, Newton, NC 28658 — photo 5
1 of 48
Active
$1,500,000 Est. $10,336/mo — Get pre-qualified
0beds -baths 7,276sq ft 1.33acres

402 S Ashe Avenue · Newton, NC 28658

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Rare investment opportunity in the heart of Newton! This 11-unit brick apartment complex is situated on approximately 1.33 acres and consists of two buildings with ample on-site parking. Conveniently located within walking distance of Downtown Newton, the library, parks, shopping, restaurants, and more, the property offers an attractive combination of location, unit mix, and value-add potential.

The complex features a diverse unit mix, including seven 2-bedroom/1.5-bath units, two 3-bedroom/1.5-bath units, and two single-level 2-bedroom/1-bath units.

Currently, three of the eleven units are vacant, giving the next owner a unique opportunity to immediately implement their own leasing strategy, complete desired updates, and position the units to maximize future rental potential. The remaining occupied units provide existing rental income while the property is repositioned.

Whether you're looking to expand an existing multifamily portfolio or take advantage of a value-add investment opportunity in a highly convenient location, this 11-unit property offers tremendous potential in vibrant Downtown Newton.
Listing also found under commercial MLS# 4430429

Features & Amenities

Living Area7,276 Sq.Ft.
HeatingNatural Gas
CoolingCentral Air
FireplaceNo
AppliancesGas Range, Refrigerator
Year Built1975
ConstructionBrick Full
RoofArchitectural Shingle
FoundationSlab
ParkingAssigned, Parking Lot, Parking Space(s)
StatusActive
Lot Size1.33 Acres
CountyCATAWBA
Property TypeResidential Income
Property SubTypeApartment
Last UpdatedOct 9, 2026
UtilitiesElectricity Connected, Natural Gas
SewerPublic Sewer
Water SourceCity
HOANo
ElementarySouth Newton Elementary School
MiddleNewton Conover Middle School
HighNewton Conover High School
Presented By: RU4 Real Estate, Inc.; ru4realestatenc@gmail.com

Location

Property boundary from county GIS

Neighborhood Snapshot

U.S. Census Bureau, ACS 5-year estimates

Neighborhood data describes this home's U.S. Census tract and is provided for information only. Statistics describe an area, not any individual property or its residents.

Monthly Cost Estimate

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* Estimates only. Actual rates, payments, and terms vary. Consult a licensed mortgage professional.

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